According to the current analysis of Reports and Data, the global Point-of-care molecular diagnostics market was valued at USD 883.5 Million in 2020 and is expected to reach USD 2,530.4 Million by the year 2026, at a CAGR of 14.7%. Point-of-care molecular diagnostics have provided rapid actionable information to the patient and also quick results to the test diagnosis boosting the growth of the market. Newly, emerging molecular diagnostics has proved to meet the requirements for speed, low cost, and have simplified methods of Point-of-care applications. The development of technology, which has made able to diagnose various infectious diseases at different sites with limited infrastructure, is expected to be the key driver boosting the market demand for POC molecular diagnostics. An intense effort has been made to build on existing technologies and further to generate new technologies for the diagnosis of a broad spectrum of infectious diseases.
A point-of-care (POC) test is done close by the site where a patient initially encounters the health care system so that it provides information that can achieve proper patient management. Rapid results are easy for patients, enable timely treatment. Diagnostics also reduce the dependence on possible treatment and thereby facilitate antibiotic therapy. Rapid diagnostic tests work by detecting analyte that is found in or extracted from clinical samples. There are two main types of analytes- microbial antigens and patient antibodies. However, there are emerging molecular technologies which use nucleic acid-based approaches at the point of care. Immunoassays such as ELISA (enzyme-linked immunosorbent assay) and RIA (radioimmunoassay) are used for the diagnosis of diseases for many individuals as it displays a high quality of test results rapidly.
In-depth Study of the Competitive Landscape:
The global Point of Care Molecular Diagnostics market consists of various market players, which makes this business sphere highly competitive. In this section of the report, the authors have provided authentic information on product portfolios, new product innovations, technological capabilities, and product pricing strategies of each of these players. Moreover, it discusses the key strategies implemented by these players, such as mergers acquisitions, joint ventures, collaborations, partnerships, and agreements, to build on their market presence.
Top companies profiled in the report include:
Abbott Laboratories (US), Biomerieux (France), Danaher (US), Roche diagnostics (Switzerland), Meridian biosciences (US), Quidel (US), Johnson Johnson (US), Cepheid(US), Bio-Rad Laboratories (US), Becton (US), Dickinson and Company (US), Alere, Inc. (US), Bayer health care pharmaceuticals
Key Market Regions Covered in the Report:
- North America (U.S., Canada)
- Europe (U.K., Italy, Germany, France, Rest of EU)
- Latin America (Chile, Brazil, Argentina, Rest of Latin America)
- Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
- The Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
Product and Services Outlook (Revenue in Million USD; 2020–2028)
- Assays Kits
- Instruments/Analyzers
- Services Software
Technology Outlook (Revenue in Million USD; 2020–2028)
- Polymerase Chain Reaction
- Genetic Sequencing-based (DNA/RNA Purification)
- Hybridization-based (In-Situ Hybridization)
- Microarray-based (Chips and Microarrays)
- Real Time Polymerase Chain Reaction
- Mass Spectrometry
- Isothermal Amplification
- Others
Application Outlook (Revenue in Million USD; 2020–2028
- Infectious Diseases
- Oncology
- Hematology
- Prenatal Testing
- Endocrinology
- Sexually Transmitted Diseases
- Health Care Associated Infection
- Others
End Use Outlook (Revenue in Million USD; 2020–2028
- Hospitals
- Clinics
- Homecare
- Assisted Living Healthcare Facilities
- Decentralized Labs
- Others
Frequently asked questions addressed in the report:
- What is the revenue growth rate of the global Point of Care Molecular Diagnostics market over the forecast period?
- What are the major factors driving the growth of the Global Point of Care Molecular Diagnostics Market?
- What are the key challenges impacting the global Point of Care Molecular Diagnostics market growth?
- What are the outcomes of the SWOT Analysis and Porter’s Five Forces Analysis conducted in the report?
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